BTPN Syariah Books Net Profit Of IDR 753 Billion In Semester I 2023

Director of BTPN Syariah Fachmy. (Photo: Doc. Antara)

PT Bank BTPN Syariah Tbk (BTPN Syariah) posted a net profit after tax of IDR 753 billion in the first semester of 2023.

"Alhamdulillah, our performance remains positive, although the conditions are quite challenging, especially in recovering and improving the habits of ultra micro customers," said Director of BTPN Syariah Facmy Achmad in Jakarta, quoted from Antara, Friday, July 21.

Nevertheless, he did not deny that the achievement of net profit after the tax decreased by 12 percent compared to the same period last year (year-on-year/yoy), which was IDR 856 billion.

The decline in net profit occurred because the company increased the reserve burden by 76 percent (yoy) from Rp365 billion to Rp642 billion in the first semester of 2023.

Fachmy explained that the increase in reserves was carried out because the Company saw that the current condition of customers was more challenging, as well as the possibility of poor conditions next year.

"Our reserves are preparing from now on so that if in 2024 customers are difficult, we will already have reserves," he said.

Overall, he revealed that BTPN Syariah's margin income rose 10 percent (yoy) from IDR 2.57 trillion to IDR 2.8 trillion in the first half of this year, while margin expenses also increased 45 percent (YoY) from IDR 162 billion to IDR 235 billion.

Thus, the issuer's net margin income with the stock code BTPS rose 8 percent (yoy) from IDR 2.4 trillion to IDR 2.59 trillion.

Meanwhile, the capital adequacy ratio (CAR) of Bank BTPN Syariah is still in a strong position at the level of 46.72 percent, above the provisions and average of the Islamic bank industry.

Third party funds (DPK) are also still maintained at an efficient level of Rp12.38 trillion and BTPS' total assets were recorded at Rp21.26 trillion in the middle of this year.